BRAIN FOOD: Words-worth - Satisficing

BRAIN FOOD: Words-worth - Satisficing - 'The road of excess leads to the palace of wisdom,' said William Blake, but he was wrong. Sensible companies know most people prefer to 'satisfice'.

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Last Updated: 09 Oct 2013

'The road of excess leads to the palace of wisdom,' said William Blake, but he was wrong. Sensible companies know most people prefer to 'satisfice'.

Social scientist and economist Herbert Simon invented the word in 1956.

An amalgam of 'satisfy' and 'suffice', it expresses his discovery that people and firms don't actually want the best result in any situation; they settle for 'good enough'. 'Satisficing' is a growing - and realistic - aim in management, just so long as your customers agree to 'satisfice' too.

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